John At The Center

As I’ve written before, this is really a debate about tactics, not basic questions of finance and economics. The debate involving basic questions of finance and economics is the one that’s just getting started about how we regulate the financial sector.

They’re not totally unconnected, of course: Johnson has an article in the May Atlantic arguing that a recalcitrant financial oligarchy is standing in the way of solutions on both fronts. But I don’t get why we keep having this misleading back and forth on whether to nationalize the banks or not. I don’t get why the Obamanites keep using that we’re-not-Sweden line, and I don’t get why the Krugmanites are so unwilling to see any of the administration’s moves as laying the groundwork for possible future nationalizations.

via Newsweek on Krugman and the nationalization non-debate :: The Curious Capitalist – TIME.com.